<p>I am applying to phd programs in biology and I was wondering if it was typical for people to also do the NSF application (which looks like a lot of work to do on top of apps, classes, and everything else). Does applying for it apply your chances at getting into grad schools (eg does it look good if you apply for the fellowship?) </p>
<p>I am interested in this topic as well. It looks like a pretty significant amount of work particularly for somebody whose only experiences with research proposals was in the setting of a class. However, the salary boost that schools offer grad students with external funding (as well as the stability this would provide) might be worth it.</p>
<p>My friends with external funding don't actually get any sort of salary boost, they just don't have to worry about being funded by a professor and tend to have more money to use on their research projects.</p>
<p>One thing that's unfortunate about applying to fellowships as an undergrad is you don't hear back from them until the same time you're hearing back from grad schools. It certainly wouldn't hurt to apply, as if you were to find out you won a NSF fellowship you should immediately contact all the schools you applied to and notify them. Your cost going from $50,000 a year to support down to a few thousand is certainly a huge mark in your favor.</p>
<p>I back RacinReaver's view: if you're accepted to NSF after learning you were rejected from some grad school, just let them know and they'll probably change their mind :)</p>